Almost 200 meter high skyscraper The Henderson” in Hong Kong nearing completion – financial expert provides insights

Almost 200 meter high skyscraper The Henderson” in Hong Kong nearing completion – financial expert provides insights

According to a report by www.diepresse.com, the skyscraper “The Henderson” in Hong Kong is nearing completion. The office building was designed by Zaha Hadid Architects and is already half leased.

Construction of The Henderson skyscraper in Hong Kong, designed by Zaha Hadid Architects, is coming to an end. The striking glass facade of the almost 200 meter high office tower has already been almost completely assembled. The land on which the skyscraper will be built was considered the most expensive building site in the world in 2017 when it was acquired by developer Henderson Land. The price at the time was £764,000 per square meter.

Despite the impressive construction work and architectural design, the skyscraper's rental performance has so far been rather disappointing. According to Henderson Land, at the end of last year only half of the office space was rented, including to companies such as Swiss watch brand Audemars Piquet and auction house Christie's. This drop in office demand could be due to an overall increased supply situation in Hong Kong as more large office buildings are set to open in the coming weeks and months.

This trend could lead to an increase in the vacancy rate and pressure on rental prices in the Hong Kong office property market as demand lags behind supply.

Conclusion

The skyscraper “The Henderson” in Hong Kong is nearing completion, but the building's low rental performance due to increased supply could impact the market for office properties in Hong Kong and cause the vacancy rate to rise further.

This trend should be kept in mind by real estate investors and prospective buyers as it could potentially impact rental rates and returns in this market segment.